Credit Cards have been around for a while now. If you own one, you may not know of how much value you can extract from it. Besides being a flexible financial tool, Credit Cards from renowned providers, such as IndusInd Bank, have a series of benefits which can profit you greatly. If you know how to use your card wisely, you will find that it is so much more than just a mode of transaction.
Here are a few pointers on how to maximize the benefits from your Credit Card.
Choose the right Credit Card
Perform extensive research and groundwork before you decide which card to choose. With the availability of dozens of Credit Cards, making a choice can be tricky. You can narrow it down by focusing on a few things primarily:
- Visit the websites of well-known and reliable banks and find out all rewards, benefits or loyalty points they offer
- You need to be clear about exactly how you want to use your Credit Card. Depending on whether you use the card for general expenses or for other purposes, make a choice that will get the interest rates best suited for you and the best rewards
- Certain purchases like paying gas bills, travel expenses or business expenditure will help you earn rewards. Keep yourself updated on the latest discounts and offers. Choose a card that is best suited to your lifestyle by evaluating the kinds of purchases you make
- The best way to know everything about the rules of using your Credit Card is to ask for a copy of all terms and conditions from your bank. Be aware about the minimum payment, APR, annual and other fees, sign-up bonus and every other perk you can get from your Credit Card
Derive maximum benefit from offers and reward points
Try to make the most of the various seasonal or promotional offers your Credit Card issuer provides. During these periods it is likely that you will get better offers and more cashbacks.
Knowing your Credit Card riders can help you use your reward points optimally. If you have earned enough reward points, you must use these points before expiry. The best way to keep track is by monitoring your loyalty account regularly and staying updated.
Use your card regularly and be a loyal customer
The best way of proving your loyalty as a customer is by spending and making timely payments to your Credit Card Company regularly. Although it might seem like the zero annual fee card is more profitable, the cards which charge an annual fee come with long-term benefits. If you use your card smartly, you might find that using the card with an annual fee helps you save more.
Most importantly, you must use your card regularly. A Credit Card comes with numerous benefits and you would be missing out on all of them if you don’t use it regularly. Activity on your card automatically will fetch you more offers and benefits. You must also pay your Credit Card bills on time since late payment can pile up on your outstanding interest amount and have a negative impact on your credit score.
Using your Credit Card efficiently is twice harder than owning one since it involves making wise decisions and getting out of your comfort zone. Once you know how to use your Credit Card well, managing money will become easier. Using the above-mentioned tips, you can now make the most of your Credit Cards and enjoy the maximum benefits it has to offer. If you are looking for a Credit Card that is loaded with benefits, check out the wide range of options available at IndusInd Bank.
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